Dangerous Interference?

As Congress last week passed its Defense
Production bill (see 'NATIONAL AFFAIRS), with its standby economic
controls, a warning shout went up. Said topflight economist and Federal
Reserve Board member, M. S. (for Menc Stephen) Szymczak: don't use
them. "Direct controls," said he, "are [not the] answer to our
immediate inflation problem. They deal only with effects and not with
basic causes." Instead, the Government should cut down on the "rapid
credit and monetary expansion . . . [and] current Government deficits
which threaten to grow larger and larger."